Canadian Financial Close: TSX dips, equity holders take profits

By Commodity News Service Canada

WINNIPEG, June 8 – The Canadian dollar advanced against its
American counterpart Wednesday as stronger oil prices continued
to buoy the loonie.
Despite an increase in US stockpiles a barrel of crude oil
traded above US$51. Production outages in Alberta and parts of
Africa continue to cut into the worldwide supply glut.
The Canadian dollar closed at US$0.7876 or US$1=C$1.2696,
which compares with Tuesday’s close of US$0.7830, or
US$1=C$1.2771.
The Standard & Poor’s/TSX Composite Index finished lower
Wednesday, as investors booked profits.
Trading volumes were high as many investors bet that rising
US inventories of crude oil would weigh down prices going
forward.
The S&P/TSX Composite index declined 52.51 points, or
0.37%, to 14,313.10.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 1.04 at $ 36.29
Agrium Incorporated———-dn $ 0.46 at $121.72
Buhler Industries————– $ 0.00 at $ 4.91
Maple Leaf Foods————-up $ 0.06 at $ 29.22
Potash Corp. of Sask———dn $ 0.55 at $ 22.68

(All figures are in Canadian dollars.)